CATEGORY

Legal Services Europe

Legal services includes service rendered in the conduct of proceedings before any court or other authority or tribunal and the provision of advice on legal matters

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    Legal Services Europe Suppliers


    Legal Services Europe Supplier

    Find the right-fit legal services europe supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    ACCENTURE PUBLIC LIMITED COMPANY
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    6
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    58

    100
    Robust (1)
    ESG Perfomance (/100)
    Environment
    90
    Social
    42
    Governance
    67
    6 Domains Performance (/100)
    Business behaviour
    58
    Human rights
    55
    Community Environment
    54
    Corporate governance
    72
    Human resources
    29
    Security Scorecard
    97

    Threat indicators
    A
    95
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    A
    100
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    A
    98
    Application Security
    Detecting common website application vulnerbilities
    A
    94
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    A
    99
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    accenture.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    9
    Human Rights Issues
    0
    Production Supply Chain Issues
    3
    Environmental Non Compliance Flags
    12
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    5
    Fraud Issues
    2
    Labor Health Safety Flags
    6
    Regulatory Issues
    3
    Workforce Disputes
    1
    Sanctions
    0
    esg energy transition
    80
    Discrimination Workforce Rights Issues
    5
    esg controversies critical severity
    No

    Legal Services Europe market report transcript


    Regional Market Outlook on Legal Services

    The global legal market size growth in 2017 is mostly contributed by North America followed closely by Europe. The increasing demand for specific practice areas like Banking, Finance and Securities, Mergers and Acquisitions, etc. has been a driving force for the global legal market while a growing trend of bringing parts of litigation work in-house is affecting the market revenues.

    Drivers:

    • Practice Area Demand-Practice areas like finance and securities, M&As, and commercial services have been driving the global legal market over the past three years (2014-2017)
    • Law firm Mergers and Acquisitions-Mergers and Acquisitions of law firms have driven the market in 2015, 2016 and 2017 and they are expected to continue their momentum in 2018 as well
    • Rising Billing Rates-The billing rates, though are rising nominally, are contributing to the growth of legal market revenues

    Constraints:

    • In-sourcing of Litigation work–Many of the corporate in-house counsels are insourcing parts of Litigation work (which claims almost half of the corporate legal budget), which is dampening the revenues of the law firm market and is expected to do the same in 2018 too
    • Unconventional legal service providers-With more and more non-law firms, like virtual law firms entering the legal market, though a diversification of the supplier base is happening, the overall legal market revenues are decreasing

    European Legal Market Size and Growth, Drivers and Constraints

    The BREXIT situation is one of the most important factors that has been influencing the European market for the past year, by affecting the demand for certain practice areas and eventually driving the overall market size.

    Market Growth Drivers:

    • With the gradual realization of BREXIT, the European Union has been experiencing a rise in demand for specific practice areas like contract law, employment law, etc., which is driving the legal market at the moment
    • The uptick in debt capital market has boosted the legal market revenues, due to increase in demand for finance and securities practice area

    Market Constraints:

    • Many non-traditional legal service suppliers like virtual law firms, temporary staffing agencies are occupying the market, leading to a fall in revenues for the erstwhile monopolistic law firms in the European market
    • A rising pressure on the law firms to adopt Alternative Fee Arrangements by the corporates has resulted in reduction of total law firm revenues, due to reduction in extra charges which is usually experienced in hourly billing

    Key Legal Technology Trends observed in Europe

    Technology is making rapid forays into diverse fields and the legal industry is no exception. Artificial Intelligence (AI) tools have started sharing the work-load in recent times in areas such as legal research, e-discovery, compliance, contract analysis, case prediction or document automation etc. and the rate of adoption is growing in Europe.

    AI-Backed Contract Management Systems:

    • Description: AI is automating most of the complex contract management tasks performed by in-house legal teams. Using natural language processing, companies are developing end-to-end AI contract management technology to support the in-house legal teams in management of the full contract lifecycle including workflows, approvals and setting alerts and reminders for the business
    • Impact: The contract management system is successfully used for digital transformation contract management programs for in-house counsel in Europe. The move is expected to change the shape of the current pyramid of legal roles, as many companies try to replace the contract analysts with this technology

    Regulatory Tools for Risk Management:

    • Description: As of May 2018, all organizations in EU will be required to comply with the new legal framework General Data Protection Regulation (GDPR)
    • Impact: Many legal software solutions companies are launching low-cost platforms to assist law firms and in-house counsels to implement best-practice processes and mitigate the risk of the severe financial penalties that a breach of GDPR will bring

    Outside Counsel Procurement and Management Platform:

    • Description: Corporates are collaborating with software providers to develop tailored platforms through which in-house teams can fast track procurement, track law firm expenditure and manage their work using single tool, which is typically done using spreadsheets and dashboards
    • Impact: As the client requires legal expertise across a vast spectrum of business needs, this single platform which builds the feedback loop right into the process, offering greater efficiency and better service overall, is going to be advantageous

    Tools to Help Understand the Implications of European Union (Withdrawal) Bill:

    • Description: Many of the rules affecting businesses in the UK come either directly from EU law or from domestic legislation that implements it. The European Union (Withdrawal) bill will define how the regulations that govern businesses post Brexit will affect the corporates. New software tools are being launched in order to help corporates understand the implications of the bill
    • Impact: Brexit changes UK's relationships with EU and corporates with presence in UK will want to know how their legal and regulatory environment will change. This tool will explain how the European Union (withdrawal) Bill will deal with the specific legal instruments they corporates are concerned about

    Supply Landscape

    The European legal supplier market is constituted by global law firms- consisting of UK and US based international law firms and excel in many practice areas, boutique law firms–who provide niche services and are mostly local entities and other non-traditional legal service providers like LPOs, Virtual law firms, etc.

    Global Law Firms:

    • The global law firms are the big brands, which have presence in the EMEA countries and cater to almost all the practice areas
    • These are the AmLaw and Magic Circle firms, which have entered the EMEA countries through mergers and acquisitions with local firms
    • For example: Allen & Overy LLP, Clifford Chance, etc.

    Boutique Law Firms:

    • This category includes law firms offering specialized services in niche practice areas and are able to compete against the large global firms in providing specialized legal work, at competitive prices
    • These are started by well known attorneys and cater to very niche subject matters like local regulations and are preferred by the corporates for local law matters

    Alternative Legal Service Providers:

    • This segment comprises of LPOs, legal arms of the Big 4 consulting firms, Virtual law firms, Staffing Agencies, etc.
    • These suppliers are in their growing phase of maturity in Europe and their adoption is rising by the day. These ALSPs are in their highest rate of adoption in countries like the US and at a lower rate of adoption in Middle East, Africa and LATAM

    Evolving Sourcing Models

    Sourcing Based on Negotiated Rates:

    • One-off discounts (One time discount)
    • Cost-effective service providers
    • Restrictive billing guidelines
    • Input based pricing model

    Sourcing Based on Negotiated Service Agreements

    • Discounted rates across multiple projects
    • Efficient use of resources available with the law firms
    • Output based pricing model

    Sourcing Based on Full Integration Contracts:

    • Contract with preferred legal providers
    • Law firms with Integrated knowledge systems and technology
    • Outcome based pricing model

    Negotiation Levers

    Outsourcing more work to niche law firms:

    • Procurement can outsource more work to niche law firms, specialized in the required practice areas, to avail cost benefits

    Waiving off first year associate charges:

    • The charges for first year associates billed to a project can be waived off, as law firms usually utilize them at a substantially lower costs, with experience and exposure being the main objective

    Utilizing historic billing data:

    • Procurement could utilize its legal department's historic billing data. Any noticeable inconsistent increase in billing rates can be used as a negotiation strategy while engaging with law firms